S&P Corrects By Lowering Rating On Claris III's Series 03/2006 Repack Notes Mar 12
Standard & Poors, March 2012
Abstract
OVERVIEW In January 2012, we lowered to 'A' our rating on Claris III series 03/2006's underlying collateral. We have today lowered to 'A (sf)' our rating on the series, to reflect its weak link to the rating on the collateral. Today's rating action also corrects an administrative error in May 2009, when we took rating action on the collateral but did not reflect this in our rating on the series. Claris III Series 2006-3 is a single asset repack transaction, with underlying collateral notes issued by Credit du Nord. LONDON (Standard & Poor's) March 2, 2012--Standard & Poor's Ratings Services today lowered to 'A (sf)' from 'AA- (sf)' its credit rating on Claris III Ltd.' s series 03/2006 repack notes....
Companies mentioned in this report are: Claris III Ltd.
Action: Downgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Claris III Ltd.
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